Doha – Sharikat Mubasher: Dukhan Bank of Qatar announced it has become the first Islamic bank in the country to go live on Kinexys by J.P. Morgan, the US-based financial services company's blockchain-powered deposit account network.

This step marks a milestone in Dukhan Bank’s digital transformation strategy, enabling corporate and institutional clients to access real-time cross-border payments around the clock, including weekends and public holidays, according to a recent press release.

The Kinexys Blockchain Deposit Account network supports major global currencies and offers near-instant settlement, programmable payments, and enhanced liquidity management, helping businesses meet increasingly complex treasury and international payment needs.

On this occasion, Ahmed I. Hashem, Acting Group Chief Executive Officer of Dukhan Bank, said the launch reflects the bank’s commitment to delivering innovative, Sharia-compliant financial solutions that improve the speed, transparency, and efficiency of cross-border transactions while strengthening its digital capabilities.

Meanwhile, Akshika Gupta, Global Head of Product Sales and Solutions at Kinexys by J.P. Morgan, said the platform enables banks to provide clients with always-on payment and settlement services. She added that eight of the Middle East’s largest banks already use the blockchain network, highlighting its growing adoption across the region.

The move also underscores the increasing role of blockchain technology in Islamic finance, supporting greater transparency, efficiency, and certainty in financial transactions while reinforcing Dukhan Bank’s focus on innovation within a Sharia-compliant framework.